WORKERS could miss out on hundreds of pounds if they aren’t aware of loopholes in their contract.
All employees have a contract with their employer.
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This is an agreement that sets out the employment conditions, rights, responsibilities and duties.
They include everything from your pension entitlement and holiday allowance, to sick pay provision and even your salary.
These are the terms of the contract and are mostly things that have already been discussed and agreed on before you start work.
But it can be worth reading the small print before you sign an employment contract to make sure it’s all clear.
If not, you could be caught out by certain terms and even left strapped for cash.
Ally Fekaiki, chief executive officer of employee wellbeing company Juno, has revealed five loopholes that workers need to need to know to avoid being left out of pocket.
Flexible working
Employers are legally within their rights to tell you where they’d like you to work.
But some employers do offer flexible working options, particularly following the pandemic.
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But Ally said employment contracts can often be vague on their flexible working terms, which can cause problems for workers.
He said: “Red flags to look out for include mentions of flexible working with aren’t clearly defined.
“This can allow employers to wriggle out of accommodating flexitime, for example, leaving those who need to fit work around school runs or caring responsibilities in sticky situations.”
And with parents facing a massive rise in nursery costs, making sure you’re clear on your flexible working rights could save you thousands.
Ally said to avoid this, contracts should clearly define exactly how many days you’ll be expected to work in the office and how many days you’ll be able to work from home.
“This should include whether or not a fixed office space will be provided, or whether subscriptions for co-working spaces will be paid for,” he added.
He said contracts should also clearly lay out non-negotiable working hours.
This should include any fixed start and end times, total number of working hours, and working days – as well as any flexibility around this.
Check your benefits
Many workplaces offer perks and it’s important that employees make sure they are making the most of the ones available to them.
But Ally said its important to know what you’re entitled to, particularly when it comes to parental leave.
He said: “Enhanced parental leave appears great on the surface, but you might not get what you bargained for if your contract doesn’t stipulate that this can be shared between partners.”
You can share up to 50 weeks of leave and up to 37 weeks of pay between you.
You need to share the pay and leave in the first year after your child is born, and it could leave you unexpectedly out of pocket if this isn’t clearly defined in your contract.
Ally said it’s also important to check whether you’re entitled to full pay, statutory maternity pay, or a combination of the two – as well as the period of time that each applies to.
Not everyone can get statutory maternity leave and statutory maternity pay.
You should check on the government’s website to make sure you do things properly so that you can claim the money.
And if you don’t check for these terms in your contract, you could miss out on up to 39 weeks of pay, that could be worth thousands.
Bag a bonus
Offers of performance-based bonuses are another thing to look out for, Ally said.
But you’ll want to make sure you’re totally clear on what you need to achieve to bag a bonus.
He said: “Make sure there’s total transparency when it comes to the targets your ‘performance’ will be measured against, any time frames for this, and the person that will be reviewing your work.”
You don’t want to me left missing out on an extra few hundred quid because of some unclear guidance in your contract.
You should speak to your companies HR department if you’re unclear on any of the criteria.
Meanwhile, some companies are shaking things up by introducing four-day weeks – here’s the full list.
And firms have been offering joining bonuses to attract new staff amid shortages.
Plus, you can boost your pension by taking advantage of workplace contributions.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
